Opposition leader Thomas Mulcair opened the second Question Period of the fall session of Parliament with a direct inquiry for Prime Minister Stephen Harper: Could he explain how Canada went from having a $26 billion trade surplus when the Tories took office, to having a $50 billion trade deficit today?

“How can the Prime Minister explain this failure to Canadians?” asked Mulcair in the House of Commons.

The reasons for fluctuating trade balances are “extremely complex,” Harper said in response.

“This government is committed to expanding Canadian exports … and that is why we have pursued trade deals around the world, signed trade deals with nine new countries,” he said. “Now I know that in almost every single case, the New Democratic Party opposes these trade deals. The [NDP] even opposed the NAFTA trade deal, Mr. Speaker. That trade is vital for the Canadian economy.”

Canada’s trade deficit grew to an all-time high this year, reaching $2.3-billion in the month of July. Exports and imports tumbled in the face of a weak global economy.

Statistics Canada also revised June’s deficit to $1.93-billion, even deeper than the $1.81-billion deficit originally reported last month.

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Mulcair further chastised Harper and the Conservative government for lost manufacturing jobs and high levels of unemployment.

“I know the Prime Minister prefers making things up about the NDP instead of answering the questions but Canadians deserve better,” Mulcair said.

“This morning, TD Bank economists sent a serious warning: Canada’s economy will continue to struggle. Exporters will continue to suffer the impact of an artificially high Canadian dollar. Families are seeing the value of their homes affected by a declining real estate market … how can the Prime Minister be satisfied with these dismal results?”

Chris Wattie / Reuters

Despite a fragile and uncertain global economy, Canada’s record for job creation and economic growth “shines” when compared to other developed nations, Harper said.

“The leader of the NDP wants to take about the facts. On his party’s policies, it’s very clear in the NDP platform they call for $20-billion in carbon taxes on the Canadian economy. Mr. Speaker, manufacturers, consumers are saying this would destroy job creation, destroy their economic prospects and we will not endorse or adopt such foolish policies.”

In the midst of the back-and-forth between the two leaders, Liberal MP Marc Garneau interjected to chide the two parties for arguing about a carbon tax when 165,000 young people have given up and stopped looking for work.

“What does it take to get this government to focus on the priority of jobs rather than trying to switch the channel?” Garneau said.

Harper in turn derided the Liberal party for an absence of any discernible policy.

“The Liberals say: ‘Look as us. We’re not either of them,’” Harper said.

“Well, Mr. Speaker, that’s not a policy. People expect to have some idea why the Liberal party exists down here.”

Garneau, one of a handful of candidates expected to run for leadership of the Liberal party, went on to question whether Harper was doing anything to lessen the impact of the shaky global economy.

“Our trade balance is getting worse. Canadians are worried about their jobs and their financial stability,” Garneau said.

“Here’s some suggestions: roll back the payroll tax increases, give low-income Canadians refundable tax credits, and how about giving low-income Canadians some help to get their kids into university.”